Sport: Tottenham raise all funding for new stadium through major refinancing - PressFrom - United Kingdom
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Sport Tottenham raise all funding for new stadium through major refinancing

17:37  20 september  2019
17:37  20 september  2019 Source:   msn.com

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Available for everyone, funded by readers. Daniel Levy has insisted that he will continue to run Tottenham on the balanced and relatively frugal business plan that Levy was asked by the Financial Times whether the refinancing would release more money for Mauricio Pochettino, the manager, to

Tottenham Hotspur has refinanced more than £600m of loans taken out to build its new stadium , with the English Premier League club tapping US investors through private bond markets to secure its financial future. The new Tottenham Hotspur Stadium in north London © Action Images via Reuters.

a close up of a bridge: All funding for the Tottenham Hotspur Stadium has been raised (Yui Mok/PA) © Yui Mok All funding for the Tottenham Hotspur Stadium has been raised (Yui Mok/PA)

Tottenham Hotspur have raised all the funding needed to cover the cost of the team’s new stadium through a major refinancing.

The Tottenham Hotspur Stadium opened in April of this year after a series of delays, but is now one of the most impressive facilities in world football.

The club said they have raised a total of £637 million – £525 million via US investors and a further £112 million in the form of a loan from Bank of America Merrill Lynch.

(Photo credit should read DANIEL LEAL-OLIVAS/AFP/Getty Images) © Getty (Photo credit should read DANIEL LEAL-OLIVAS/AFP/Getty Images)

On average, the money will be paid back over 23 years, and at an average rate of 2.66%. The longest period of return is 30 years.

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to support the new stadium project, and "to promote wider regeneration through the development of a 'North Tottenham Regeneration programme'". The Spurs spokesperson acknowledged that the club is a major landowner in that area, via the Bahamas company, but argued developing High Road

Tottenham 's new stadium : the changing face of White Hart Lane – in pictures. Read more. Pochettino sounds excited by the challenge of navigating Tottenham through this period of change. Spurs travel to the Etihad Stadium this weekend seeking to extend a seven-match winning sequence.

Spurs chairman Daniel Levy said: “We have continued to develop Tottenham in line with prudent financial management and investment into the club’s key infrastructure and our fast-growing global brand, successfully matching long-term assets with long-term financing.

(Photo credit should read DANIEL LEAL-OLIVAS/AFP/Getty Images) © Getty (Photo credit should read DANIEL LEAL-OLIVAS/AFP/Getty Images)

“It is a tribute to the team on and off the pitch that we have achieved what is considered to be one of the most attractive financing deals in the world of sport.

“Our club is extremely well positioned as we move forward delivering the excitement and entertainment of Premier League and Champions League football, NFL, rugby, concerts and much more.”

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